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š„ Gold Hits Record: Gold recently hit a new high of $3,357.40 per ounce, mainly due to the trade tensions between the U.S. and China and worries about the global economy.
š Profit-Taking Pullback: After hitting that record, prices dropped to $3,321.89 as investors took profits. But with all the ongoing uncertainty, the overall mood is still pretty bullish.
š® Positive Outlook: Experts, including Goldman Sachs, are still optimistic. They predict gold could go up to $3,650ā$3,950 and possibly even hit $4,500 if recession risks rise.
š¦ Central Bank Demand: Countries, especially China, are still loading up on gold, which bodes well for the long-term price trend.
š ETF Inflows: Gold-backed ETFs have seen huge inflowsā226.5 metric tons in Q1 2025 alone. That shows strong institutional interest.
š Physical Demand: Jewelry demand in India has slowed down because of high prices, but China is still going strong when it comes to gold.
ā¬ļø Other Metals Struggling: While gold is holding steady, other precious metals like silver, platinum, and palladium are on the decline.
Gold continues to be a top choice for investors looking to hedge against inflation and uncertainty in the market. Itās solid for anyone looking to diversify their portfolio.
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